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$AVAX Current price: 9.280 USDT. Do you think this is just a continuation of the bullish trap, or is a pullback already underway?
My personal view leans more towards: it looks like a high-level divergence, not suitable for chasing longs $AVAX
Reasons:
- The buying momentum is not strong enough; a breakout still lacks momentum
- The divergence at high levels is starting to widen, making a short-term shakeout more likely
- Reclaiming the key level on the 5-minute chart, retaking the high on the 15-minute chart, or forming a higher low after a breakdown all indicate invalidation.
Entry suggestion: 9.354 USDT
Estimated target price: 8.797 USDT
Stop-loss reference: 9.577 USDT
But the biggest risk at this level is being pushed through a resistance level with high volume.
Which side are you on? Bullish / Bearish / Wait and see?